A straightforward guide to taking tax breaks and deductions

Completely revised to reflect important changes in this year’s tax laws, J.K. Lasser’s 1001 Deductions & Tax Breaks 2010 will help you take advantage of every tax break and deduction you may be entitled to.

This comprehensive guide is clearly organized by subject matter so you can easily find situations that may apply to you. Each tax benefit is also clearly explained-along with the eligibility requirements for claiming the benefit-while planning tips and common pitfalls associated with the benefit in question are discussed in detail. New tax law alerts are also included throughout the book, so you can make the most informed decisions possible.

* Discusses deductions and tax breaks with regard to your family, home, car, job, investments, charitable giving, health coverage, and much more
* Packed with hundreds of updated examples, practical advice, and real-world examples
* Other titles by Weltman: J.K. Lasser’s Small Business Taxes 2010

J.K. Lasser’s 1001 Deductions & Tax Breaks 2010 is a book every taxpayer should own.

Who Killed the Constitution?: The Federal Government vs. American Liberty from World War I to Barack Obama

“If you want to know why the federal government regulates the air you breathe, the water you drink, and the words you speak, read Who Killed the Constitution? . . . When the history of these unfree times is written, Tom Woods’s and Kevin Gutzman’s fearless work will be recognized as the standard against which all others are measured.”
–Judge Andrew Napolitano, Fox News senior judicial analyst and bestselling author of The Constitution in Exile

“It’s about time someone shouted out that the emperor has no clothes.”
–Kirkpatrick Sale, director of the Middlebury Institute and author of Human Scale

“Woods and Gutzman (two bestselling authors in thePolitically Incorrect Guide series) appeal to both left and right in this constitutionalist jeremiad. Liberals will agree about the unconstitutionality of the draft, warrantless wiretapping and presidential signing statements. Conservatives will agree about the unconstitutionality of school busing, bans on school prayer and Roosevelt’s suspension of the gold standard. The common thread is the authors’ brief for a federal government strictly limited to the powers explicitly granted by the Constitution. The authors’ exegeses of the Constitution and court decisions, heavy on original intent arguments, are lucid and telling, but not always consistently supportive of liberty: their reading of the First Amendment implies that state governments may restrict speech, religion and the press. Their attack on expansive federal power-even federal spending on cancer research-is perhaps too successful; it inadvertently supports scholars like Daniel Lazare who argue that the Constitution is too antiquated, constraining and hard to change to keep up with a modern consensus on civil rights and good governance.”
—Publishers Weekly

Who Killed the Constitution?: The Federal Government vs. American Liberty from World War I to Barack Obama

Constitutional Chaos: What Happens When the Government Breaks Its Own Laws

Judge Andrew P. Napolitano

* silence the First Amendment
* shoot holes in the Second
* break some laws to enforce others
* entrap citizens
* steal private property
* seize evidence without warrant
* imprison without charge
* kill without cause

Constitutional Chaos: What Happens When the Government Breaks Its Own Laws

Going Rogue: An American Life

One year ago, Sarah Palin burst onto the national political stage like a comet. Yet even now, few Americans know who this remarkable woman really is.

On September 3, 2008 Alaska Governor and vice presidential nominee Sarah Palin delivered a speech at the Republican National Convention that electrified the nation and instantly made her one of the most recognizable women in the world.

As chief executive of America’s largest state, she had built a record as a reformer who cast aside politics-as-usual and pushed through changes other politicians only talked about: Energy independence. Ethics reform. And the biggest private sector infrastructure project in U.S. history. And while revitalizing public school funding and ensuring the state met its responsibilities to seniors and Alaska Native populations, Palin also beat the political “good ol’ boys club” at their own game and brought Big Oil to heel.

Like her GOP running mate, John McCain, Palin wasn’t a packaged and over-produced candidate. She was a Main Street American woman: a working mom, wife of a blue collar union man, and mother of five children, the eldest of whom was serving his country in a yearlong deployment in Iraq and the youngest, an infant with special needs. Palin’s hometown story touched a populist nerve, rallying hundreds of thousands of ordinary Americans to the GOP ticket.

But as the campaign unfolded, Palin became a lightning rod for both praise and criticism. Supporters called her “refreshing” and “honest,” a kitchen-table public servant they felt would fight for their interests. Opponents derided her as a wide-eyed Pollyanna unprepared for national leadership. But none of them knew the real Sarah Palin.

In this eagerly anticipated memoir, Palin paints an intimate portrait of growing up in the wilds of Alaska; meeting her lifelong love; her decision to enter politics; the importance of faith and family; and the unique joys and trials of life as a high-profile working mother. She also opens up for the first time about the 2008 presidential race, providing a rare, mom’s-eye view of high-stakes national politics—from patriots dedicated to “Country First” to slick politicos bent on winning at any cost.

Going Rogue traces one ordinary citizen’s extraordinary journey and imparts Palin’s vision of a way forward for America and her unfailing hope in the greatest nation on earth.

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This is one of the greatest responses to the requests for bailout money I have seen thus far. As a supplier for the Big 3 this man received a letter from the President of GM North America requesting support for the bail out program. His response is classic, and has to make you proud of a local guy who tells it like it really is.

+++++++++++++++++++++++++++++++++++

First the letter from GM:

Dear Employees & Suppliers,

Congress and the current Administration will soon determine whether to provide immediate support to the domestic auto industry to help it through one of the most difficult economic times in our nation’s history. Your elected officials must hear from all of us now on why this support is critical to our continuing the progress we began prior to the global financial crisis. As an employee or supplier, you have a lot at stake and continue to be one of our most effective and passionate voices. I know GM can count on you to have your voice heard.

Thank you for your urgent action and ongoing support.

Troy Clarke
President General Motors North America

++++++++++++++++++++++++++++++++++++++++++++++

Now the response from one of GM’s suppliers:

Gregory Knox,
Pres. Knox Machinery Company
Franklin , Ohio

Gentlemen:

In response to your request to contact legislators and ask for a bailout for the Big Three automakers please consider the following, and please pass my thoughts on to Troy Clarke, President of General Motors North America.

Politicians and Management of the Big 3 are both infected with the same entitlement mentality that has spread like cancerous germs in UAW halls for the last countless decades, and whose plague is now sweeping this nation, awaiting our new , Pres- Obama, to wave his magic wand and make all our problems go away, while at the same time allowing our once great nation to keep “living the dream.” Believe me folks, the dream is over!

This dream where we can ignore the consumer for years while management myopically focuses on its personal rewards packages at the same time that our factories have been filled with the worlds most overpaid, arrogant, ignorant and laziest entitlement minded “laborers” without paying the price for these atrocities this dream where you still think the masses will line up to buy our products for ever and ever.

Don’t even think about telling me I’m wrong. Don’t accuse me of not knowing of what I speak. I have called on Ford, GM, Chrysler, TRW, Delphi, Kelsey Hayes, American Axle and countless other automotive OEM’s throughout the Midwest during the past 30 years and what I’ve seen over those years in these union shops can only be described as disgusting.

Troy Clarke, President of General Motors North America, states: “There is widespread sentiment throughout this country, and our government, and especially via the news media, that the current crisis is completely the result of bad management which it certainly is not.” You’re right Mr. Clarke, it’s not JUST management. How about the union electricians who walk around the plants like lords in feudal times, making people wait on them for countless hours while they drag ass, so they can come in on the weekend and make double and triple time for a job they easily could have done within their normal 40 hour work week.

How about the union line workers who threaten newbies with all kinds of scare tactics for putting out too many parts on a shift and for being too productive (We certainly must not expose those lazy bums who have been getting overpaid for decades for their horrific underproduction, must we??!)

Do you folks really not know about this stuff? How about this great sentiment abridged from Mr. Clarke’s sad plea: “over the last few years we have closed the quality and efficiency gaps with our competitors.” What the hell has Detroit been doing for the last 40 years?! Did we really JUST wake up to the gaps in quality and efficiency between us and them? The K car vs. the Accord? The Pinto vs. the Civic?!? Do I need to go on? What a joke!

We are living through the inevitable outcome of the actions of the United States auto industry for decades. It’s time to pay for your sins, Detroit .

I attended an economic summit last week where brilliant economist, Alan Beaulieu, from the Institute of Trend Research , surprised the crowd when he said he would not have given the banks a penny of “bailout money”. “Yes, he said, this would cause short term problems”, but despite what people like politicians and corporate magnates would have us believe, the sun would in fact rise the next day and the following very important thing would happen. Where there had been greedy and sloppy banks, new efficient ones would pop up. That is how a free market system works. It does work, if we would only let it work”.

But for some nondescript reason we are now deciding that the rest of the world is right and that capitalism doesn’t work – that we need the government to step in and “save us” Save us my ass. Hell – we’re nationalizing and unfortunately too many of our once fine nation’s citizens don’t even have a clue that this is what is really happening. But, they sure can tell you the stats on their favorite sports teams… yeah – THAT’S really important, isn’t it?!

Does it ever occur to ANYONE that the “competition” has been producing vehicles, EXTREMELY PROFITABLY, for decades in this country?… How can that be??? Let’s see. Fuel efficient. Listening to customers..Investing in the proper tooling and automation for the long haul.. Not being too complacent or arrogant to listen to Dr. W. Edwards Deming four decades ago when he taught that by adopting appropriate principles of management, organizations could increase quality and simultaneously reduce costs. Ever increased productivity through quality and intelligent planning. Treating vendors like strategic partners, rather than like “the enemy”…Efficient front and back offices.. Non union environment..!

Again, I could go on and on, but I really wouldn’t be telling anyone anything they really don’t already know down deep in their hearts.

I have six children, so I am not unfamiliar with the concept of wanting someone to bail you out of a mess that you have gotten yourself into – my children do this on a weekly, if not daily basis, as I did when I was their age. I do for them what my parents did for me (one of their greatest gifts, by the way) – I make them stand on their own two feet and accept the consequences of their actions and work through it.

Radical concept, huh? Am I there for them in the wings? Of course – but only until such time as they need to be fully on their own as adults.

I don’t want to oversimplify a complex situation, but there certainly are unmistakable parallels here between the proper role of parenting and government. Detroit and the United States need to pay for their sins. Bad news people – it’s coming whether we like it or not. The newly elected Messiah really doesn’t have a magic wand big enough to “make it all go away.” I laughed as I heard Obama “reeling it back in” almost immediately after the final vote count was tallied. “we really might not do it in a year or in four” Where the Hell was that kind of talk when he was RUNNING for office?

Stop trying to put off the inevitable folks! That house in Florida really isn’t worth $750,000. People who illegally jump across a border really don’t deserve free health care benefits! That job driving that forklift for the Big 3 really isn’t worth $85,000 a year. We really shouldn’t allow Wal-Mart to stock their shelves with products acquired from a country that unfairly manipulates their currency and has the most atrocious human rights infractions on the face of the globe..!

That couple whose combined income is less than $50,000 really shouldn’t be living in that $485,000 home..! Let the market correct itself folks – it will. Yes it will be painful, but it’s gonna’ be painful either way, and the bright side of my proposal is that on the other side of it all, is a nation that appreciates what it has and doesn’t live beyond its means and gets back to basics, and redevelops the patriotic work ethic that made it the greatest nation in the history of the world.

Sorry – don’t cut my head off, I’m just the messenger sharing with you the “bad news”. I hope you take it to heart.

Gregory J. Knox
President Knox Machinery, Inc.
Franklin , Ohio 45005
source.

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The Best Way to Rob a Bank Is to Own One: How Corporate Executives and Politicians Looted the S&L Industry

Editorial Reviews
Review
“This is an extraordinary book… No other account gives a complete picture of the control fraud that occurred in the S&L crisis… There is no one else in the whole world who understands so well exactly how these lootings occurred in all their details and how the changes in government regulations and in statutes in the early 1980s caused this spate of looting… This book will be a classic.” –George A. Akerlof, University of California, Berkeley, winner of the 2001 Nobel Prize for Economics

Review
Persons interested in the economics of fraud, the S&L debacle, the problems of financial regulation, and microeconomics more broadly will find this book to be very important. It is a marvelous combination of insider experiences, well-grounded generalizations, and the foundations of a broader research agenda. It merits a wide readership and, one hopes, sustained reflection on its arguments and conclusions. (Robert E. Prasch Journal of Economic Issues )

The catastrophic collapse of companies such as Enron, WorldCom, ImClone, and Tyco left angry investors, employees, reporters, and government investigators demanding to know how the CEOs deceived everyone into believing their companies were spectacularly successful when in fact they were massively insolvent. Why did the nation’s top accounting firms give such companies clean audit reports? Where were the regulators and whistleblowers who should expose fraudulent CEOs before they loot their companies for hundreds of millions of dollars?

In this expert insider’s account of the savings and loan debacle of the 1980s, William Black lays bare the strategies that corrupt CEOs and CFOs—in collusion with those who have regulatory oversight of their industries—use to defraud companies for their personal gain. Recounting the investigations he conducted as Director of Litigation for the Federal Home Loan Bank Board, Black fully reveals how Charles Keating and hundreds of other S&L owners took advantage of a weak regulatory environment to perpetrate accounting fraud on a massive scale. He also authoritatively links the S&L crash to the business failures of the early 2000s, showing how CEOs then and now are using the same tactics to defeat regulatory restraints and commit the same types of destructive fraud.

Black uses the latest advances in criminology and economics to develop a theory of why “control fraud”—looting a company for personal profit—tends to occur in waves that make financial markets deeply inefficient. He also explains how to prevent such waves. Throughout the book, Black drives home the larger point that control fraud is a major, ongoing threat in business that requires active, independent regulators to contain it. His book is a wake-up call for everyone who believes that market forces alone will keep companies and their owners honest.
(200609)

About the Author
WILLIAM K. BLACK is the Interim Executive Director of the University of Texas at Austin Institute of Fraud Studies and Assistant Professor of Public Affairs at the LBJ School of Public Affairs. source.

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